Algal Bio-Diesel Power Plant Essay Example for Free

Algal Bio-Diesel Power Plant Essay Algae- most promising alternative renewable energy source available. It decreases the need for fossil fuels and thus makes our environment healthier. Algae oil is produced as much faster as 30 times than other biomass feedstock while its producing amount is up to 300 times more resulting 600 tons of bio-diesel per day which will produce 200MW of electricity per hour. MAJOR COMPONENTS IN ALGAE BIO-DIESEL POWER PLANT: 1. Algae plantation 2. Algae oil extraction and bio-diesel plant 3. Internal combustion power plant Continuous Algae production utilizing the photobioreactors is a highly reliable method for producing high density monocultures of marine and fresh water algae. The total control of all parameters are automatically controlled via a PLC, making the device dramatically reduce the labor requirements and eliminates handling problems. The photobioreactors work by recirculating algae, nutrients, water and CO2 through transparent tubes to maximize the amount of light reaching the algal cells, the short light field maximizes this process; thereby enhancing the photosynthesis process. There are two major types of extraction namely * Mechanical extraction * Chemical Extraction The chemical extraction methods for algae extraction is done mainly using Chemical Solvents such as Benzene, Hexane. Other chemical methods include soxhlet extraction and supercritical fluid extraction. The mechanical extraction methods include the Ultrasonic Extraction. Internal combustion engines are constructed from one or more cylinders, each sealed at one end and open at the other, in which close fitting pistons can move up and down. The engine derives its power from the burning of a compressed air-fuel mixture in each of the cylinders in succession. The fuel is ignited when the piston is at the top of its stroke and the expansion of the burning gas drives the piston downwards. The reciprocating motion of the pistons is converted to rotary movement by a crankshaft which delivers motive power to the desired application, in this case a generator. Air or an air-fuel mixture is introduced into the cylinder when the piston is at its lowest point and a flywheel on the crankshaft provides the momentum to drive the piston upwards to compress it. The piston and connecting rod in a reciprocating engine form a large mass which is accelerated from zero to a very high speed and decelerated back to zero again with every revolution of the engine (100 times per second in an engine operating at 6000 rpm). This places immense forces on the moving parts of the engine. CONCLUSION: Therefore, based on the comparisons made over other power plants and the advantages of the algal biodiesel power plant, we conclude that algal biodiesel is one of the most promising green fuel because of its potential as a renewable and sustainable fuel source for the electric power generation.

Impact of Poor Services on Healthcare Organization

Impact of Poor Services on Healthcare Organization Assessment 4 Issue 1: Effect of Poor services On Reputation of Kindly Residential Care Rest Home Generally, the reputation of an institution, particularly elderly care facilities, is very essential in order to make known to concerned clients and their families how firm the institution is in offering quality health care services. In order for an institution live up to their reputation or even exceed the expectation of the clients and be more competent than other neighboring competitors, series of quality improvement measures are then conducted all year round. The first step or approach in quality improvement is to be able to identify certain factors that have a potential or a likelihood of contributing to the rise and fall of an institution’s reputation. Patient safety Safety for the client is always considered the highest priority and is the topmost factor to consider. Issues such as shortfalls, injury, elderly abuse and the like are indicators that help measure the quality of service rendered by the institution. If and when complaints in relation to these issues start skyrocketing, that is when measures for legislative amendments are called for. When the safety of a resident is at risk in an institution that is reputed to have substandard services and management, the said institution will be subjected to disciplinary action set by the Ministry of Health. Management The essential component of a healthy institution is quality satisfaction derived from both the staff and, most importantly, the customer or client. And the driving force of an institution is the operational team or the management. Any quality of service rendered by the staff and level of client satisfaction would greatly reflect on the management’s performance. Poor management over staff, facility and its services would lose the trust of its staff as well as its clients. Quality assurance The quest for an institution’s outstanding reputation doesn’t happen only once. Over periods of time, a series of audits, surveys, investigations, studies and statistics are continuously conducted to ensure that an institution lives up to its reputation. Quality assurance is there to make sure that the institution still served its purpose. At some point, certain issues within the institution have been overlooked and what has been known to be reported to responsible parties doesn’t seem to reflect the raw evidence that may arise from poor quality assurance. This would then lead people to think otherwise about entrusting themselves with the institution. On Accountability of Private Sectors and Public Sectors Private sectors are at an advantage when it comes to accountability. The public sector accounts more than the private sector, since most legislations and policies governing private institutions are stipulated by the public sector. When poor services are noted from the public sector, consumers or clients tend to rely more on the private sectors due to their extensive services and features. Because the government has minimal or little involvement over private sectors over quality improvement measures, the private sector may have the opportunity to expand the boundaries of their services in order to improve better client outcomes. There is no formal organizational structure compared to the public sector. Therefore, in the event that poor services may arise from Kindly Residential Care Rest Home, it may turn to be more of a challenge in order to gain competency in the health care industry. Stakeholders They are the persons who have a â€Å"stake ‘’ in any organization. They may be called: Internal Stakeholders in the Kindly Residential Care Rest Home, the Internal Stakeholders are the Owners or the Healthcare Providers, the carers, the nurses, and all who work for the well- being of the elderly especially those persons with dementia. The External Stakeholders include the Government and Non- government organizations which contribute their time, treasure and talent to help the Residential Care Rest Homes deliver quality service. â€Å"Quality of Care’’ is a difficult concept to measure particularly within the context of residential aged care, which involves lifestyle issues as much as health issues. One example is the Australian Accreditation Standards having been credited with contributing to improve care. Though they represent only minimum standards of quality, they do not focus on clinical outcomes. Individual facilities might only be assessed against these standards every 3 years; and within these years, much scope for quality variations may go unnoticed. Hence, collecting and analyzing comprehensive clinical data from aged care facility residents constitutes an essential step in the process of monitoring quality environment. Ways to Improve The USA has introduced and continued to refine, a compulsory technioque of assessment within its nursing homes aimed at monitoring quality of care and clinical outcomes. There is a Minimum Data Set/ Resident Assessment Instrument which is a system of forms to be completed at certain intervals to meet a number of purposes such as care planning, case mix funding and quality monitoring. This uses Quality Indicators as a means of implementing quality assurance and improvement within residential aged care. Residential facilities had been subsidized by the Commonwealth Government since 1962, but funding was not regulated. Initiatives relevant to residential care have included a standardized system of assessment (Resident Classification Scales) to determine resident care needs and a formal system of Accreditation to ensure quality service delivery. Because quality of care is a multi – dimensional concept, no single area of assessment can provide an accurate indication of quality. Thus, an effective assessment should contain as many items considered relevant to quality care. Hughes et. al suggested that quality measures should be integrated into routine clinical practice. The Australian Society for Geriatric Medicine described the Residential Classifications Scales as the â€Å"antithesis of a funding system that generates incentives for quality health outcomes.’’ Government –appointed bodies responsible for assessing residential care facilities compliance with standards improved quality of care within residential care facilities. Aged Care Standards and Accreditation Agency was introduced in 1998 that compels residential aged care facilities to seek accreditation for funding. Clark and Bowling (32) suggested that quality of life in residential care could be ascertained by looking at measurable indicators such as general health, functional status, mental health, comfort, emotional wellbeing, privacy, choice and autonomy. When considering quality assessment for residential aged care facilities, indicators of quality should encompass areas of clinical care directly related to residents’ physical health, as well as quality of life and lifestyle-related issues such as activities and family involvement. Issue 2: Quality Management Theories Pareto Analysis This is a simple methodology by which prioritization of potential changes through determining the problems that can be addressed and resolved through making necessary changes. Through this technique, the organization can make prioritization according to the individual alteration that could improve the scenario. This quality management tool utilizes the Pareto Principle or the 80:20 rules. This rule utilizes the concept of 20 percent cause that could produce to 80 percent outcome. The Kindly Residential Care Rest Home will use the following approach while taking into consideration the principles of Pareto Analysis to achieve the best practice in healthcare services of the said organization. Problem Identification and List it First, the problems and potential threats are listed down. In this step, possible inputs from clients and members of the Kindly Residential Care Rest Home (KRCRH), and conduct surveys to identify the existing problems in the organization. The root cause of problems are identified In this stage, methods are utilized that warrants the team to identify the root causes of threats and problems. Score Problems In the third step, the organization prioritizes the problems according to its severity or effect on the healthcare practices of KRCRH. Problems are grouped according to their root cause. The identified problems are put in to a group according to their root causes. Add up Scores In this step, scores are added up and identify which of the group has the highest and lowest score. Through this, prioritization is according to scores are done. Take Action In the final step, KRCRH will take actions in addressing the highest priority according to the group or problem that got the highest score. William Edwards Deming Dr. William Edwards Deming proposed the plan-do-check-act, also known as PDCA. It is a four step methodology by which used by the organization to control and improve the services and product of an organization. Kindly Residential Care Rest Home will also make use of this kind strategy to improve the healthcare services of the healthcare organization. The end result of this would be a high quality of services by the facility to the residents and staff of the organization. The following are the Steps of PDCA that the facility will make use: PLAN Objectives and processes are established which are necessary to deliver the outcome in to the expected results. The KRCRH will have a clear view of their target and their goals in achieving their proposed target in this initial phase. DO The plans from the initial phase are implemented in the second step. Data collection is also vital in this phase because the data collected will be used in the later stage of the process. CHECK The KRCRH will do evaluation of the data gathered during the DO stage. These will be charted and analyzed by the facility to identify which needs to improved and which are well in the health care services of the KRCRH facility. ACT Corrective actions are done in phase. The differences between the actual and planned results are analyzed and the root causes are determined. The corrective actions are implemented to achieve the planned outcome of the KRCRH. Issue 3: Quality Management Tools Total Quality Management Behind success of Kindly Residential Care Rest Home are the people who are hand in hand managing an organization, determined to make change for rendering the best of its healthcare services. Through years that Kindly Residential Care Rest Home offers quality of care to its residents and proves its Excellency by garnering prestigious awards, positive feedback and unending trust from stakeholders, family and community its success does not end instead continuity of more complete, comprehensive and structural way of management by enhancement of strategies to improve the quality of services is their big secret towards success or the so called â€Å"total quality management†. Kindly Residential Care Rest Home utilizes total quality management to ensure that giving the quality of care for their residents will not be compromised which can lead to poor health outcomes and downfall of the organization due to improper management. Using the total quality management Kindly Residential Care Rest Home first identify the problem and plan what to do. Second is to implement the solution then evaluate or check if it resolves the problem. And lastly integrate the solution if it works upon further evaluation. As a result Kindly Residential Care Rest Home identified the following problems and able to resolve and improve its quality of service. Falls Risk – most of the common problem that arises among the elderly due to physical restriction like inability to walk or unsteady gait, mental incapacity, side effect of a drug, and in relation to disease condition like poor vision, etc. To prevent this happen solutions are the following: use of sensor mat, call bell, mattress, assistive devices (walker and gutter) , side rails (as necessary and with GP`s order) UTI outbreak – another problem that is commonly and easily acquired by elderly due to low intake of water and poor hygiene. To address this problem the following should be implemented like hand washing, proper hygiene, use of PPE, hand sanitizer to each room and even corridor, health education or information dissemination (mass production of pamphlets regarding UTI prevention), infection control, and proper waste disposal. Patient satisfaction – one of the most important thing to be prioritize because patients are the ones who receives care and they should be satisfied or even exceed the expectation of the services being rendered to them. To be able to improve the quality of care makes the patient satisfied and happy the following are being implemented to have quarterly auditing of services rendered, quality assurance, suggestion box or feedback forms. Incompetent staff – to give a quality of care means to have enough knowledge and skills to handle the patients and assist them according to their needs. Incompetent staff is another problem identified that contribute in poor healthcare delivery service and patient`s injury. For example clinical error, and negative feedback. To address this problem the following are being implemented like comprehensive recruitment and selection, trainings and seminars, disciplinary action, continuous evaluation and staff appraisal. Lean Management Lean Management is all about encouraging everyone in the facilities from the top management down to the staff to be involved in helping to participate in the improvement of quality care, and reducing errors. First, you have to identify the problem and acknowledge that the problem exists and why it is a problem, willingness to change and you can now find ways on how to solve that problem. In Kindly Residential Rest home we value our residents, respect our residents and continue to provide quality of care. We have to understand the voice of our clients, where they coming from, and made sure to meet their needs and put into action. The most important thing in lean for healthcare organization is that the errors and mistakes are being corrected nor improve, the amount of time taken is being valued, productivity increases, and so it is easy for the staff to work easier by eliminating those waste that can provide good quality of care and productivity of the staff. Here are some of the common Errors: Clinical Communication – In electronic patient record, if there is any laboratory test results needed instead of waiting for a week wherein referral needed from the attending physician of the patient and then sending back the result from the physician, the system is being made to remove any unnecessary stages instead laboratory people sends electronic results so he can access right away and evaluate the result. So, it saves time and effort of the patient from travelling. Waiting time/ Getting Appointment – Appointment System is an agreement to meet with the physician at a specific time and day and it is used also to control the demand and the problem is on the mismatch on the capacity of the patients and the physician. In order to avoid this problem the system must be monitored or may provide different type of consultation to accommodate everyone. In result, the patient is being examined on the day she wanted to be seen, less stressed for the staff. Overproducing – spending so much time on something that is not important for the patient Defects – wasted time and effort for the inspection of something that has been already done or inspected In KRRH we value our residents the most, we have to eliminate those wastes and focus to what is important to our client and be able to maintain the quality of work and our commitment to our profession and to the residents as well. Issue 4: Continuous Improvement System It is important to maintain a continuous improvement system for delivery of service to geriatrics. Quality management is one way to improve the system and it is composed of costumer focused organization, leadership, involvement of people, process approach, system approach to management, continual improvement, decision making, and mutually beneficial supplier relationships. In order to perform quality improvement an organization must consists of team that has a deep understanding of an area that requires enhancement. Organization like the Kindly Residential Rest Home is determined to continue finding solutions for the present problems as well in the future that may arise. By continuous improvement of the system there will be a positive result that will lead to a better healthcare service it will ensure the high standard of care that is cost effective and accessible to all. Organization must be sensitive to the needs of the patients and therefore must understand and ensure that there will be a plan of action to meet those needs. This is the result when an organization is costumer focused. Secondly is the Leadership, this is the action of leading a group of people and the leader should know how to unite people that will be involved in achieving the organization’s goals. Thirdly, is the involvement of the people in the organization at any level must do their part in their full capabilities in order to have a successful outcome that can be used for the benefit of the organization. Continuous improvement is necessary because there is no permanent in this world, even the facility in some point changes. Given an example is the technology; people depend on computers and this help in many ways like documentation, auditing and research. Many facilities depend on computer and internet because they make the job easier and efficient. Trainings and seminars a re also another way of improving the system. Developing and enhancing the skills of employees will lead to better healthcare delivery. A well knowledgeable and trained staffs has so much to offer that will benefit not only the clients but also the organization. They will be more confident as well as an important member of the facility. The residents will be satisfied with the care that they are getting from the healthcare providers and as the result they intend to stay longer. The facility will gain a good reputation and the business will be successful. This will attract more people to invest in the health care industry. By frequent assessment and analysis of the problem or changes there will be an ideal plan of action. Continuous improvement in an organization is part of duties and responsibilities of management. To achieve highest performance and success adapting to changes is essential. There is no such thing as constant especially when it comes in dealing with lives of people. Different approaches must be applied depending on the person’s character, behaviour or needs.

homelessness Essay -- essays research papers

All over America, there are people wandering the streets without a home. These individuals are seen as a crowd, a separate collective existence. They are called the homeless, as if that defines who they are, but we too often neglect to add the unspoken word in that title: people. It seems today that the more fortunate citizens of America who have a roof over their heads have forgotten their innate responsibility to watch over those in this world whom are incapable of caring for themselves. Tragically, â€Å"thirty to fifty percent of the homeless have severe mental illnesses† (Torrey 1). These individuals live life in such a way that few people in this world could possibly even begin to compare their hardships. The fact that they survive completely independently, most without the medication they need, is bewildering. The problems resulting from the lack of attention given to the homeless who are mentally ill can be solved through the establishment of better health clinics, an d stricter laws involving patient care. If more clinics were to be established specializing in the mental health of the homeless, then the attention could be given to them that they need. E. Fuller Torrey, author of â€Å"The Homeless Mentally Ill Should Be Forced To Receive Treatment† describes the habits and reasons for the incredible amount of mentally ill homeless: â€Å"They sleep, importune strangers, gesture to imaginary accomplices, shout angrily at the wind, forage through cans, and sit quietly with glazed ey...

E-Sports :: essays research papers

We live in constant violence. It seems like every year there’s a domestic event highlighted by a bloody rampage by crazed individuals armed with weapons that are meant for such frenzies. The most recent that are still in people’s minds would be the Washington Sniper and the Columbine High School shootings. While it may be true that psychologically troubled individuals planned out and executed both events, later investigations pointed out one hauntingly similar coincidence. The killers practiced on simulated violence that comes with video games (http://www.answers.com/main/ntquery?method=4&dsid=2222&dekey=Eric+Harris+and+Dylan+Klebold&gwp=8&curtab=2222_1). And because of that, the gaming industry took massive repercussions, with lists such as the one Mothers Against Violence in America created, in which games such as Warcraft 3: The Frozen Throne, Doom 3, Half-Life 2, and Halo are supposed to be avoided by parents at all costs (Lottie). The Interfaith Center on Corporat e Responsibility mentions the same games but takes it a step further stating that â€Å"violent interactive media indicates that it has a strong and more lasting effect on violent behavior†¦in children and adolescents.† (http://www.iccr.org/issues/violence/jointstatement020705.PDF) But is that the truth? Will everyone playing an Entertainment Software Rating Board rated Mature game become a crazed, violent individual who wants to commit mass murders? The mass populace of the United States may say so, but the rest of world seems to disagree (McDonald, 16). Gaming has minimal effects, if not any, on the mental health of its crowd. With legislation pushing for anti-gaming acts, the casual and professional gaming communities are starting to suffer because of a few crazed individuals. Whereas casual gamers will probably complain, American pros will take whatever action they can to slow down the barrage of acts and laws that will hinder their ability to compete at level with f oreign professional gaming teams.   Ã‚  Ã‚  Ã‚  Ã‚  One of the ideas that hasn’t taken hold in the United States would be the idea of Electronic Sports or Professional Gaming (commonly known as E-Sports). The rest of the world, namely Europe and Asia, respects and accepts E-Sports, whereas the United States looks down on it. America tries to make attaining competitive games Counter-Strike, Counter-Strike:Source Halo, Warcraft 3 and others difficult for everybody. Europe and Asia on the other hand, have live media coverage at events broadcasted over national television. If a common middle-class mother in America mentions something about games, negative comments would follow suit. If the same case was to happen in Norway, then the responses would be neutral and would wind up with the mothers conversing about their sons/daughters placement in the last major event they were in.

Natures Gems :: essays papers

Natures Gems Desperately gripping the bend with screeching tires I accelerated down the slope toward a secluded lake, my lake. Edging the car over to the side, I wandered down to the water dampening my hand, revelling in the cool fluidity of it, feeling the burden of my conscience being lightened. I sat by its side, tossing stones into it’s willowy depths, watching the ripples slowly radiate from the epicentre. Stripping to the waste I waded out into the lake, the water was cold and refreshing it’s ice tendrils turning my skin a healthy red. I could still feel my hand throbbing from where I’d hit Mary, over and over until she had collapsed in a heap and I had fled the scene. Seeking peace of mind I had fled to the only place I could think of, this lake, this picture of tranquillity, I confessed my sins to it, felt reborn by it’s unspoken forgiveness and relaxed in it’s frosty grip. There would be loose ends to tie up now, for my future happiness I must n ot let this go unfinished. A low rumbling echoed down the hillside road, a sleek car followed by a cloud of dust traced around the bends of the cliff. God damnit he’s going to frighten any game off for miles around with that ruckus, Ruin my entire days hunting will he, well I’m not going home without something to show for it. Hefting my rifle I stalked off through the brush northwards. Pushing some branches aside I was greeted by a sight that wholly unimpressed me, once you’ve seen one, you’ve seen em all†¦ Some may consider this lake to be picturesque, a gem of nature. Not to me. This scene was totally uninspiring, the clam, slowly undulating waters were indifferent to me and me to them. The mountainous surrounds only made me feel more inadequate â€Å"in the great song† making my â€Å"verse† more insignificant. In my eye nature mocked humans and their pitiful achievements, this it the reason I loved to hunt, to kill, to extinguish this subtle mockery wherever I could. I heard a faint rustle to my left, ramming the butt of the rifle into my shoulder I pivoted and pulled the trigger†¦ Mary was down for only a few minutes, but when the stars cleared Harry was gone, the welts on her face were quickly swelling up closing her left eye.

Dow’s Bid for Rohm and Haas Essay

Dow started as a manufacturer of commercial bleach in 1897, and was founded by Herbert Dow. He merged his company in 1900 with Midland Chemical, which lead to diversification of his portfolio to agricultural and food products. In 1912, Dow started to pay dividends every quarter without any reductions or interruptions. By doing so, they were the only Fortune 200 firm that established these figures. Dow became a major player in the M&a field, since they acquired between 1983 and 2007 95 business, took stakes in 58 firms and divested 166 businesses. In 2006, Dow’s CEO Andrew Liveris announced the ‘Dow of Tomorrow’ strategy, which consisted of two pillars. One was pursuing an asset light approach to its commodity business. In order to do so, he signed a JV agreement with a subsidiary of the Kuwait Petroleum Company, named Petroleum Industries Company. Dow and PIC signed a Memorandum of Understanding, which generated Dow a $7.2 billion after tax revenues. Second, Mr. Liveris wanted to build a high-growth and high-value added performance business. In order to achieve this objective, Dow agreed to purchase Rohm and Haas. This acquisition had the purpose for Dow to become a producer of high-value chemicals and advanced materials. Why does Dow want to buy Rohm and Haas? As mentioned in the introduction, CEO Andrew Liveris announced the ‘Dow of Tomorrow’ strategy. This included becoming a high growth and high-value added producer of specialty chemicals, with less cyclicality. Rohm and Haas fitted the picture perfectly, since they were an advanced material and specialty chemicals company, operating in 27 countries. Besides the interesting company profile description, there were several other reasons  why Dow was interested in the Rohm and Haas company. Most important reason was that the acquisition would make Dow reduce its cyclicality and increase its growth prospects. Expanded product portfolios, increased geographic market, improved market channels and innovative technologies will obtain the expected growth and cost synergies. Forecasts predict additional growth synergies values between $2.0 and $2.6 billion and $0.8 billion costs synergies, including shared services and governance, manufacturing, supply chain and work process improvements. Besides the above-mentioned advantages, Dow and Rohm could be a global leader in specialty chemicals and advanced materials if they combined forces. Also by combining their R&D, the development of new products and innovations could be stimulated. So overall, Rohm and Haas fitted the picture projected by Andrew Liveris perfectly. Rohm and Haas supported Dow’s commitment to maintain their highest standards in pursuing and selecting growth opportunities to satisfy their long-term shareholder values. Was $78 per share a reasonable bid? In order to draw a conclusion of the reasonability of the bid, we need to valuate Rohm and Haas as a firm with and without the synergies created by the acquisition. If this total value exceeds the $78 share price, Dow will pay the price, since it will be beneficial for them. The benefits of the synergies can be calculated by dividing it between the two firms on a multiple or 50/50 basis. The excel file attached to the assignment contained a WACC of 8,5% based on a tax rate of 35%. In our analysis, we also calculated a WACC with a tax rate of 26%, since this was the average tax rate. This leads to a WACC of 8,7%. As a basis, we took 2% growth. Rohm and Haas had at time of the acquisition 195,200,000 shares outstanding. From the balance sheet of Rohm and Haas 2008H1, we took the values of cash and debt (long and short term debt). Both inputs were needed in order to calculate the share price. Below, you can find how we calculated the share price for the situations with and without synergies. The synergies involved consist of two different types, namely growth and cost synergies. Growth synergies include expanded product portfolios, increased geographic reach, improved market channels and innovative technologies. These synergies are expected to create between 2 and 2.6 billion dollars, which gives an average of 2.3 billion. Second, potential cost synergies consist of purchasing synergies, shared services and governance, manufacturing & supply chain improvements and work process optimization. These synergies are expected to generate 0.8 billion dollar. The values of these synergies combined totals a 3.1 billion dollar gross benefit, which is a netted by deducting the 1.3 billion cost of implementation, leaving a value of 1.8 billion dollars. In order to make the most suitable valuation and draw the best conclusion for the reasonability of the share price of $78, we take the original and revised forecast into account. Both cases are also used for the sensitivity analysis to be as specific as possible. Below are the sensitivity analyses of Rohm and Haas for the original forecasts. Based on our assumptions, share price of Rohm and Haas is $55.79 without synergies and $65.01 with synergies. These values differ a little from the share price we found in our valuation analysis, however this is due to rounding and number of decimals difference in WACC and growth percentages. Lowest value without synergies is $47.10 with a growth of 1% and a WACC of 9% and a highest share price of $95.58 with a growth of 3% and a WACC of 7%. If we now look at the original forecast with synergies, we see an increased share price, which is logical, since value is created by the synergy. The share price of Rohm and Haas is $65.01 based on the growth rate of 2% and a WACC of 8.7%. The share price differ between lowest value of $56.32 and highest value of $104.80, based on the same input as with the analysis with no synergies. In both cases, the share price is below $78 so if Dow offers this price in both situations, the will not profit from this acquisition. However, we will still perform the 50/50 and multiples valuation in order to see which is the best in the situation if Dow is obliged to acquire Rohm and Haas. Looking at  case were synergies are created and using the 50/50 method, we get a share price of $55.79 + ($65.01 – $55.79)/2 = $60.4. As we already mentioned, this price does not match the $78. Now using the gross profit of Rohm and Haas as a percentage of the gross profit of both companies combined, we get a multiple of 26.11%. Using this 0,2611 multiple, the appropriate share price is $55.79 + (0,2611 * (65.01 – $55.79)) = $58.20 Again, this is below the share price of $78, which makes the outcomes of both methods unfavorable for Dow. Now let us look at the revised forecast. Since this is a post-crisis forecast, predictions were lowered, which lead to a lower overall value. Hence, this will be reflected in our sensitivity analysis by lower share prices. Below are our findings. As already predicted, share prices are lower in the revised forecast due to the crisis adjustments. For the sake of the case, we will also perform a 50/50 and multiples calculation. If we look at the 50/50 share price, we get a share price of $41.38 + ($50.60 – $41.38)/2 = $45.99. The multiples basis will give us a share price of $41.38 + (0,2661 * ($50.60 – $41.38)) = $43.79. Reviewing both forecasts and within these forecasts both with and without synergy, we can conclude that a share price of $78 is not reasonable. This conclusion holds in the case of 50/50 and multiples calculations. Major deals risks and allocation We will pay special attention to Exhibit 4 when examining the major risks and their respective allocations. The first risk comes from the item 1.01 describing the financing of the deal. Dow will issue a fixed amount of $4 billion in convertible preferred stocks to Berkshire, Hathaway and Kuwait Investment Authority. This amount is independent of the current stock price of Dow, meaning that a drop in Dow’s share price would need more shares to pay for the deal, decreasing the relative voting rights of current shareholders. To be even more precise, in paragraph 2.1a it states that no matter what happens Dow has to pay $78 dollar per share at the time of the merger, transferring all the financial  risk to Dow. Furthermore, a large part of the deal is financed with a $13 billion loan, issued by a consortium of 19 banks lead by Citigroup, Merrill Lynch and Morgan Stanley, increasing their leverage ratio and overall risk of the company. These high debt values come with high interest payments, leaving fewer cash to meet its dividend obligations. In a possible economic downturn this problem becomes larger, increasing the probability of not meeting their dividend payments which have not been changed for over 97 years. A further interesting statement is the ticking fee to ensure the deal would close. When the deal is not closed before January 10, 2009, the payment per share will increase with 8% annually, translating to a higher deal price of approximately $3 million more per day until the deal is closed. In addition if the deal is not closed before October 10, 2009, Dow has to pay $750 million termination fee. This will, again, transfer all the risk to Dow if the deal cannot be closed before October 10, 2009. In paragraph 3.1 the Material Adverse Effect clause states that Dow is allowed to withdraw from the transaction if the business, operations or financial conditions of Rohm is hit by a material adverse effect. This seems fair but there is a large set of exceptions made in the clause for which Dow cannot withdraw from the transaction, including the following events: any event which affects the chemical industry, macro economy as a whole, the financial, debt, credit or security market, any decline in Rohm’s stock price or any failure to meet internal or published projections. So, in case of an economic downturn mainly Dow is affected and not Rohm. Roam and Haas are even protected from a decline in their share price. Thus, these statements will, again, transfer almost all the risk to Dow Furthermore, Dow takes on another risk by relying on the joint venture with Kuwait’s PIC to finance $7 billion of the deal. They do not take into account the possibility that this joint venture could fail due to i.e. a downturn in the overall economy. If it fails it leaves a gap of $7 billion in their financing plan, exposing Dow to even more risk. Finally, the overall high price and ticking clauses make it a risky deal when compared to the expected synergies. The probability of achieving all expected synergies is a magnitude smaller than the probability of high costs, which is certain. It leaves Dow exposed to a possibly large loss when the expected synergies are not met in the future. The only risk that Rohm and Haas face is the possible termination of the deal from their side if the deal is i.e. taking too long. They have to pay a $600 million termination fee if the decide to do so. Other than that, considering the mentioned risk allocations from above, the total risk of this deal is mainly resting on the shoulders of Dow Chemical. CEO recommendations To give a complete view of the options that both CEOs had at the time we will first describe the situation they were in.   Shortly after the deal announcement the financial crisis started, causing an overall recession including in the chemical industry. Dow was hit on many fronts: overall share prices dropped with over 50%, a fourth quarter loss of $1.6 billion, quarterly sales decline of 23% and a drop in operating rate to 44% in 2008. Forcing Dow to close off 20 facilities and firing over 5000 employees. Furthermore, after the joint venture deal was closed with KPC’s PIC, the failing oil prices and overall recession caused KPC to terminate the contract by paying a termination fee of $2.5 billion to Dow. This caused a gap in the financial plan for the merger for Dow, decreasing their stock price even further and degrading their rating to BBB. As mentioned before, Dow was not the only one affected by the economic recession. Rohm was facing a poor performance as well, forcing it to fire over 900 employees, freeze spending and a 20% decline in sales. Considering the above, Dow refused to close the deal with Rohm and Haas after approval from the European Commission and U.S. Federal Trade Commission. Arguing that the recent macro-economic developments are material adverse effects, enabling them to terminate the deal. Options and recommendation for Dow’s CEO, Andrew Liveris Considering the situation as described above, Liveris had three different options: continue with the termination of the deal, close the deal for $78 per share or renegotiate with Rohm and Haas to agree on different terms. If Dow continues to terminate the deal it will go to court for the approval by the judge. It needs to win in court otherwise Dow is forced to commit to the deal. Given the statements enclosed in the material adverse effect clause, the chances for Dow to win are pretty slim. If Liveris opts to close the deal for $78 per share he will need a lot of additional cash. Considering the economic situation, and the fact that the joint venture failed, acquiring this amount of additional cash will be very hard. The possibility to acquire more debt through the already existing bridge bank loan from 19 different banks is pretty small considering the low credit rating of BBB. If he does succeed in acquiring more debt he will probably not be able to meet the net-debt-to-total-capitalization restriction in the covenant. This is, according to the first loan of $13 billion, required to be lower than 65% which they will not be able to meet, thus not creating incentives for the banks to lend more money. Considering the above, terminating the deal will not be possible and closing the deal for $78 per share lacks financing. The best option Andrew Liveris thus has is to renegotiate the merger deal and buy some time. He will then be able to look for other sources of financing or renegotiate the already existing bank loan. One possible option could be to sue KPC for terminating the joint venture and claiming the $2.5 billion, which in turn could finance the termination fee. Considering that this will destroy the relationship between these two companies this would not be recommended. Options and recommendation for the CEO of Rohm and Haas, Raj Gupta The situation for Raj Gupta is a bit simpler: either sue Dow for not completing the deal or renegotiate with Dow to postpone the deal. Both having different advantages and disadvantages. The first option is to go to court and continue the case that Dow has to complete the deal or otherwise pay the termination fee. Considering the  exceptions stated in the material adverse effect clause that macro-economic effects and effect on the chemical industry in general are excluded from this clause, Gupta will have a strong case and is likely to prevail in court. Committing Dow to the deal or otherwise paying the termination fee of $750 million. The second option is to renegotiate the deal with Dow. The most important disadvantage considering this option is that it would almost certainly come to a deal which is less favorable for Rohm and Haas when compared to the original deal. Which term should be reconsidered? For example, a lower price per share would decrease the expected value for the shareholders. Shareholders will not vote for such a deal, especially the Haas family who owns 30% of the company and is waiting to exit for $78 a share. The only option, although shareholders will not be amused in the least, is to delay the due date of the deal, preserving the harmony between the companies. Even if Gupta will win in court, the possibility that the deal will go through considering the financing problems of Dow is still small. Rohm and Haas will in this case only receive the termination fee of $750 million. Gupta obviously wants the deal to go through and so do the shareholders of Rohm and Haas, enabling them to exit the company and receiving a high premium while doing so. Terminating the deal will negatively affect both companies and their shareholders. Therefore it would be better for Gupta to facilitate any possibility that the deal will go through, even implying a possible decrease in price per share. Our recommendation thus is to renegotiate the deal, making sure that it succeeds. The premium for the shareholders might be lower but both companies can benefit from the acquired synergies and shareholders can still opt to exit. Resolving the legal dispute Considering the above, it would have been in the best interest of both companies to renegotiate the deal. However, Rohm and Haas decided to continue their trail against Dow Chemicals. The judge will therefore make a decision based upon the facts presented to him. Based on the facts alone, the most likely option for me, William B. Chandler  the Third, Chancellor in the Delaware Court of Chancery, is to enforce the merger contract between the two parties. In particular, the specifics of the Material Adverse Effect clause in paragraph 3.1 state that the MAE clause does not include the following events: â€Å"any event which affects the chemical industry, macro economy as a whole, the financial, debt, credit or security market, any decline in Rohm’s stock price or any failure to meet internal or published projections.† To be more specific; the argument according to Dow that the recent material developments have created unacceptable uncertainties on the funding and economics of the combined enterprise, justifying the termination of the deal, is overruled by the ‘specific performance’ clause in paragraph 3.1. Therefore, the ‘specific performance’ clause, as requested by Rohm and agreed upon by Dow, is binding and hereby enforced. The merger will be executed as planned. Dow will have several different options to solve the financing issue, cutting dividends, renegotiating debt and other means to generate cash could be used. If the deal is not closed before January 10, 2009, as stated in the contract, Dow will pay a ticking fee of 8% per annum. Dow should have been more careful drawing up the contract as it is signed and before me today. Since the possibility of an economic downfall is especially stated in the deal clause, I will make no exception and hereby conclude that the Dow will meet all deal requirements as stated in the contract. Every penny has to sides, if you risk it, you could lose it. Thank you. *slams the hammer*

Burger King Corporate Social Responsibility

Assignment Corporate Social Responsibility (CSR) refers â€Å"the ethical principle that a person or an organization should be accountable for how Its acts might affect the physical environment and the general public† dobber, D. & Fahy, J. , 2009). Nowadays, CSR programme Is a global trend, which Is encouraged by the government. It also helps the company in partnership and investment opportunities. On the other hand, CSR programme can enhance the company's Image In the consumers' views. It would be very effective In a competitive market.And furthermore, CSR programme can Improve he productivity and reduce the producing cost for the company. For these reasons, all kinds of business have began to focus on their CSR programme as responding to the sociality concerns In various ways. Burger King corporation (BKC) Is a global chain of hamburger fast food restaurants. 3K Is founded In 1954 by James McLamore and David Edgerton. In the end of 2012, It has a total of 12,700 outlets In 7 3 countnes. Recently, BKC has lust arnved to Vietnam. BKC Is located In Hanoi, Da Nang, and Ho Chi Minh City.However, BKC does not seem to provide a good marketing campaign here. BKC has installed several CSR programmes in other countries but not in Vietnam yet. To implement a CSR programme is a way ot marketing it to Vietnamese society. The problem in Vietnam market is Vietnamese people are not used to tast food due to culture differences. They also care a lot about their looks, their healthy, especially obesity problem. People in ages of 16-35 are the main customer target of BKC, However, the rate of obesity of people in these ages is increasing rapidly.